The Statement of SFIO. A company’s reputation depends on three factors. Namely, the relationship with the customer, the quality of the product and the price of the product. Heera Group of companies is one of such brands that never compromise with their products. Accordingly, their reputation has never been bad due to the high-quality products at affordable rates.
However, a few years ago, the reputation of the company was affected by a legal case; that was made by their investors. It stated that the predetermined amount that was to be returned by the company has not been returned. The case caused the company’s operations to come to a halt. The employees were interrogated while the Chief Executive Officer Nowhera Shaik was taken into custody. Several reports were made but nothing made sense before the Hearing of the Supreme Court.
Supreme Court Hearing
The Supreme Court announced that because no evidence was against them; the company is not guilty and they can resume their business with full force. The whole case needed a reinvestigation so the whole matter was handed over to the Serious Fraud Investigation Office. Although the case was investigated by the FSL, the SFIO was granted permission; to take the help of them and the Heera Group IT Technicians.
The Statement of SFIO: Report
The report provided by the SFIO stated that the company had only thirty crores rupees; to pay back to their investors. Thus the company went on to pay back the money. The applications of the investors were checked and the documents with proper Government ID proof and IBG numbers; were given back the money. While the procedure was under the action the official website of the SFIO complaint box showed more than; six thousand complaints stating they have not received their money. This was not the real case as the people have received part of their money.
The SFIO is now investigating the case to find out who manipulated the complaint box of their website; and trying to misguide the fellow Heera Group investors. The company is relaxed as they believe in the almighty who will help the people with true intentions.